When does political risk matter in New Zealand? EUR now a high beta currency

Posted on June 13th, 2017

EUR failed to rise on upbeat political developments.  It appears that EUR is trading more like a high-beta growth currency; unusual for a low yielding current account surplus currency.  EUR has probably benefitted from unhedged equity inflow and is vulnerable to a correction in equities.  The market is also net long EUR and, in a […]